The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-02-01
CONDITION OF THE MARKETS
Wheat alesVcryDull and Heavy, Show.
ing a Further Decline in Prices.
Corn Steadier, but the Transactions Are De-
cidedly Limted-0ats Lifeless and I'm
ehanged-Provisions Without Change.
MONEY. BONDS AND STOCKS.

An Exceedingly Dull Day, Relieved by but
One Ripple of Moderate Activity.
NEW YORK, Jan. 31.-Money on call was
easy at 81 to S per cent, closing at4
Prime mercantile paper, 81 06i per cent.
Sterling Exchange was steady to firm at $4.84s
for sixty day bills, and 81 S7a for demand.
The total sales of stocks to-day were 22o,4 Az
shares including the following Delaware,
Lackawanns & Western, 3D. 450 Erie, 16,611
Lake Shore, 8, no. Louisville & Nashville, AGO.
Manhattan consolidated 7,707; New Jersey Gen.
sral, 10000; Northern Pacific preferred, $780,
Reading A. 230; St. Paul, Is. 435; Union Pacific,
5000; Western Union, 1850.
Government bonds and State bonds were dull
md steady
The uncertainty Of the outlcek in the stock
market was shown to-day by period of dizziness
which has seldom been exceeded. There was
some activity in the first hour, and in the last
hour and q quarter but in the intermediate
uine the trading was too dull to admit of any
perceptible movement in values. The execution
of the orders accumulated over the holidays,
and some slight buying for London account,
gave the early trading an appearance OF anima-
ton; but the market was pre-eminently walt
ing one until toward p. NJ, whom it was an
Pennsylvania railroad had demanded an increase
In wages, failing which they would go out to-
morrow. At the same time news was received
from Washington that the President had decid-
ed to sign the interstate commerce bill, and
rumors of further political troubles in
Europe The "bears" seized the opportunity
to raid the market, which suddenly sprang from
extreme dullness to moderate activity, and ma
terial declines were made over the whole list,
though Erie and the Coal stocks were the prin-
.eipal sufferers. A further advance Of in ster
ling exchange rates, which is supposed to be
against sales Of securities for foreign account,
aided the decline. First prices showed irregular
changes from Saturdays final figures which,
however, were for small fractions either way.
few slight advances were made in the early
dealings, but prices soon yielded, and under the
Iced of Jersey Central, Lackawanna and Rich
mond q West Point showed material declines
during the first half hour. The market there
after was extremely dull without feature of any
kind. and but insignificant changesin quotations
until shortly before 2 p. M, when the bear"
raid infused some life into the transactions A
decided break took place before 2:l5, and later
the market sagged off small fractions in addition
and closed weak generally at small fractions bet
ter than the lowest figures of the day. Sales,
200, 444 shares. Every thing on the active list is
lower Tennesses coal losing q; Richmond &
West Point, Ii Jersey Central, II; Lackawanna
and Canada Southern, IL
Railroad bonds were inclined to weakness. es-
pecially in the forenoon Knoxville q Ohio
hrsts, however, were conspicuous for strength.
Erie second consols sold to the extent of $163,
boo, and Nickel-plate trust receipts $l95,000 out
of a total days business of ST, 292 600. Final
prices generally show changes Of small fractions
cnly Central Iowa firsts, coupon off. gained 3,
ut go; Knoxville e. Ohio firsts, "a, at SO; Nickel
plate seconds. 2, at 90; Norfolk 81 Western i'm
provement skies, 2, at l02. and Texas Central
firsts of 1909, "a, at III Mobile & Ohio new
skies declined A. at LOG: the hrst debentures, "a,
ut 60 Closing quotations were: